Berkshire Hathaway Inc. Warren Buffett bought a stake in Taiwan Semiconductor Manufacturing Co. worth about $5 billion. The Taiwanese company produces semiconductors for clients such as Nvidia Corp. and Qualcomm Inc., and is the exclusive supplier of custom chips to Apple Inc. By the way, Apple remains the most valuable asset in Berkshire's portfolio.
Assuming Buffett bought TSMC shares at their average third-quarter price, the stake would be worth $5.1 billion. They currently trade at $72.80. Shares of TSMC rose 9.4% in Taiwan after the disclosure, the biggest intraday gain in more than two years.
Buffett, 92, has long avoided the technology industry, saying he doesn't want to invest in a business he doesn't fully understand. However, this position has changed in recent years, and he is directing more and more of his company's investments into this sector.
TSMC has the potential to produce the world's most advanced chips that will play a critical role in each country's future commercial industries, such as electric vehicles and artificial intelligence, as well as fuel their military ambitions.
We previously wrote that the US imposed increased sanctions on high-performance chips produced for Chinese customers specifically to prevent them from falling into the hands of the Chinese military.
In a report by Berkshire Hathaway Inc. it is said that as of September 30, the fund owns about 60.1 million American depositary shares of the manufacturer. TSMC is currently the largest contract manufacturer of semiconductor components in the world.
Assuming Buffett bought TSMC shares at their average third-quarter price, the stake would be worth $5.1 billion. They currently trade at $72.80. Shares of TSMC rose 9.4% in Taiwan after the disclosure, the biggest intraday gain in more than two years.
Buffett, 92, has long avoided the technology industry, saying he doesn't want to invest in a business he doesn't fully understand. However, this position has changed in recent years, and he is directing more and more of his company's investments into this sector.
TSMC has the potential to produce the world's most advanced chips that will play a critical role in each country's future commercial industries, such as electric vehicles and artificial intelligence, as well as fuel their military ambitions.
We previously wrote that the US imposed increased sanctions on high-performance chips produced for Chinese customers specifically to prevent them from falling into the hands of the Chinese military.
In a report by Berkshire Hathaway Inc. it is said that as of September 30, the fund owns about 60.1 million American depositary shares of the manufacturer. TSMC is currently the largest contract manufacturer of semiconductor components in the world.